The Lumberyard Condominiums site is included within
the Transit Village & Downtown Redevelopment Area in the Borough of Collingswood.
The design of the Project consists of 119 residential units and approximately 29,000 square feet of commercial space in three buildings contained within a condominium association. Within
the design plan, Building 1 will consist of 12 stores in approximately 16,000 square feet of commercial space and 41 residential units, Building 2 will consist of 9 stores in approximately 12,000 square feet of commercial space and 22 residential units and Building 3 will contain 56 residential units. The Project design includes at present 469 parking spaces; i.e., 85 for Building 1, 104 for Building 2 and 280 for Building 3. The Lumberyard site is located northwest of Collings Avenue and the Transit Village is situated southeast of Collings Avenue, including the Project tract. This area of Collingswood is a middle
income tract and due to the proximity to the PATCO, it
is considered a Transit Village. While designated as a redevelopment area, the majority of residents are not considered low- or moderate-income.
The Borough of Collingswood is very supportive of the Project. As is the case with many communities throughout the region, household characteristics change as families mature and residents attain retirement age. The challenge is to afford these long term residents an opportunity to remain within the community. A market analysis prepared for the developer determined that empty-nesters and retirees comprise 51% of the target market for new condominium units in the Project area. Another one third
of the target market is comprised of younger singles and couples, many of whom would consider the short walk
to the PATCO train station in their decision to buy. The remainder of the target market would be traditional and non-traditional families drawn primarily from the other Camden County communities.
Ten institutions, Century Savings Bank; Columbia Bank; Delanco Federal Savings Bank; Gloucester County Federal Savings Bank; Haddon Savings Bank; Millville Savings Bank, Monroe Savings Bank, Peoples Savings Bank, Sun National Bank and Third Federal Bank, came together to form this TICIC consortium.
For more information on The Lumberyard Condominiums click here.
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